COIMBATORE: The Coimbatore corporation has approved a compensation package of Rs 13.37 crore for acquiring lands for the expansion of Peelamedu - Sowripalayam road in Coimbatore.
To solve the traffic congestion problem, the corporation planned to widen the width of the Peelamedu - Sowripalayam road from 20 feet to 40 feet.
Meanwhile, the city local body stepped up to clear the encroachments on either side of the road that witnessed traffic snarls near the Peelmedu traffic signal.
The corporation has given approval for a compensation package to the landowners, who give their land for the road expansion, adds up to Rs 13.37 crore for 11 landowners.
On the basis of the government land guideline value, the corporation has fixed the rate at Rs 3,200 per square feet.
The PSG institutions will get the highest amount of compensation of Rs 6.61 crore, even as another institution R.K. mills will get Rs 1.45 crore as compensation. In all, the corporation plans to acquire 95.87 cents (41,803 Sq.ft) lands from 11 landowners for this project.
The Corporation council, which gave the nod for the compensation package, will now seek the amount from the Local Planning Authority (LPA).
Interestingly, the corporation has allotted Rs 75 lakh for the expansion of the Peelamedu - Sowripalayam roadwork, but has allotted Rs 13.37 crore to acquire the 95.87 cents land for the project.
